MWB shows tough 18 months

Office space and meeting room provider MWB Business Exchange has said revenue in the 18 months to 30 June was £165.2m, compared to £122.4m for the previous 12 months, representing a two per cent drop on an annualised basis. Earnings before interest, tax, depreciation and amortisation fell to £900,000 for the 18 months, compared to £11m for the year to 31 December 2009. The company’s loss before tax was £12.9m, versus £6.1m profit in the previous year.